Canaccord Financial Inc. Appoints New Director

Dipesh Shah joins Board of Canaccord Financial Inc.

TORONTO, Nov. 7, 2012 /PRNewswire/ - Canaccord Financial Inc. (the "Company",
TSX: CF, LSE: CF.) is pleased to announce that the Directors of the
Company have appointed Dipesh Shah, OBE, FRSA, as an additional
independent Director, effective today. Applicable corporate law allows
the Board to appoint up to two additional directors. The board of
Canaccord Financial Inc. is now comprised of nine Directors, including
six independent Directors.

Mr. Shah is a non-executive director on the Boards of Thames Water and
the Kemble Water Group of companies, JKX Oil & Gas Plc (where he is
Senior Independent Director and Chairman of the Remuneration
Committee), The Crown Estate and the EU Marguerite Fund (where he is
Chairman of the Investment Committee). He is also a Trustee of the
British Youth Opera and a Governor of Merchant Taylors' School.

Mr. Shah was formerly the Chief Executive of the UK Atomic Energy
Authority and of various large businesses in the BP Group, where he was
a member of the Group Leadership for more than a decade. Mr. Shah was
Chairman, inter alia, of Viridian Group plc, HgCapital Renewable Power
Partners LLP and the European Photovoltaic Industry Association. In
addition, he has been a Director of several major organizations,
including Babcock International Group Plc and Lloyd's of London. He was
also a member of the UK Government's Renewable Energy Advisory
Committee from 1994 to 2002. Earlier, Mr. Shah was the Chief Economist
for BP Oil UK.

Born in India, and brought up in Uganda, Mr. Shah is a graduate of the
University of London, the University of Warwick, and the Harvard
Business School management program. He was appointed an Officer of the
Order of the British Empire (OBE) in the 2007 New Year Honours List,
and is a Life Fellow of the Royal Society of Arts.

ABOUT CANACCORD FINANCIAL INC.:

Through its principal subsidiaries, Canaccord Financial Inc. is a
leading independent, full-service financial services firm, with
operations in two principal segments of the securities industry: wealth
management and global capital markets. Since its establishment in
1950, Canaccord has been driven by an unwavering commitment to building
lasting client relationships. We achieve this by generating value for
our individual, institutional and corporate clients through
comprehensive investment solutions, brokerage services and investment
banking services. Canaccord has offices in 12 countries worldwide,
including Wealth Management offices located in Canada, Australia, the
UK and Europe. Canaccord Genuity, the international capital markets
division, operates in Canada, the US, the UK, France, Germany, Ireland,
Italy, Hong Kong, mainland China, Singapore, Australia and Barbados.

Canaccord Financial Inc. is publicly traded under the symbol CF on the
TSX and the symbol CF. on the London Stock Exchange.